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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: Sosmartinov who wrote (67175)10/20/1999 9:59:00 PM
From: Jenna  Read Replies (5) of 120523
 
EFNT...earnings plays are not like other stocks. They are more volatile and you should play them like a fine Stradavarious Violin and not a guitar. When an earnings plays gaps up in the morning after the report, sell into strength especially if you got a nice profit from the day before. It will move down quickly, luckily you have above 1/2 hour to get out. When an earnings plays DOES NOT continue to trend up before the report just close the position. It usually means it won't show strength after the report. ARBA and RNWK were great on anticipation but if you didn't get out at the gap up.
ARBA was down 3 from close at the open and 5 by the time I closed the position already losing 5 out of the 10 points from Tuesday. RNWK gapped up and on the way down I got out still 2 ahead of yesterday's close and the profit intact... EFNT was okay for a while but it began to head south while all other stocks were heading north.. I'm sure ARBA and RNWK will do better Thursday and Friday, but I wasn't going to hold through profit taking.

On the other hand BVSN was only up about 5 in the morning which is a relatively small gap up and afforded ample opportunity for entry for a huge hunk of the (17 points) of today's 23 3/4 gain. There is really no reason to hold through earnings. I have seen it day after day, stocks affording opportunities of entry AFTER the report.

After any good earnings report put up a 10, 5 and or 1 minute chart.. Wait for 3 bars that are positive and you are in. But if you are already in, and the second bar is negative, I'm usually out, even if its just 5 or 10 minutes into the open. I never wait for a stop in an earnings play.. if its not up or moving up at the get go forget it, its not going anywhere but down.
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